0
1	
  
Stop	
  Thinking	
  About	
  it	
  and	
  Automate!	
  
Henry	
  Ijams	
  –	
  PayStream	
  Advisors	
  
Peter	
  Be...
2	
  
Henry	
  Ijams	
  
Henry	
  Ijams	
  
Managing	
  Director	
  
PayStream	
  Advisors,	
  Inc.	
  
	
  
Mr.	
  Ijams'...
3	
  
Today’s	
  Guest	
  Faculty	
  
Peter	
  Bepler	
  
	
  
Peter	
  Bepler	
  
President	
  and	
  Co-­‐Founder	
  
An...
4	
  
PayStream	
  Advisors	
  
Research	
  and	
  Advisory	
  Services	
  for	
  Financial	
  OperaAons:	
  
-­‐  E-­‐Inv...
5	
  
Agenda	
  
•  Current	
  landscape	
  of	
  AP	
  departments	
  
•  Benefits	
  of	
  automaOon	
  	
  
•  How	
  to...
6	
  
0%
10%
20%
30%
40%
50%
60%
70%
80%
AP	
  AutomaAon	
  AdopAon	
  Rate	
  
by	
  Industry	
  
6	
  
*	
  AutomaOon	
 ...
7	
  
Pain	
  Points	
  with	
  Invoices	
  
Source:	
  Invoice	
  AutomaOon	
  Benchmarking	
  2012	
  
Q:	
  What	
  are...
8	
  
InvesAgate	
  the	
  
Benefits	
  
Build	
  the	
  Business	
  
Case	
  
Overcome	
  the	
  
Barriers/	
  resources	
...
9	
  
•  Are	
  you	
  buried?	
  
•  Do	
  you	
  see	
  a	
  
way	
  out?	
  
A	
  LiNle	
  Overwhelmed?	
  
10	
  
Overcoming	
  Stuck	
  
•  Share	
  the	
  Benefits	
  
•  Develop	
  a	
  Business	
  Plan	
  
•  Overcome	
  the	
...
11	
  
Best	
  PracAces	
  in	
  Transforming	
  
AP	
  
•  Centralize	
  receipt	
  /	
  payments	
  þ	
  	
  
•  Scan/A...
12	
  
InvesAgate	
  the	
  
Benefits	
  
Build	
  the	
  Business	
  
Case	
  
Overcome	
  the	
  
Barriers/	
  resources	...
13	
  
InvesOgate	
  the	
  
Benefits	
  
Build	
  the	
  Business	
  
Case	
  
Overcome	
  the	
  
Barriers/	
  resources	...
14	
  
InvesOgate	
  the	
  
Benefits	
  
Build	
  the	
  Business	
  
Case	
  
Overcome	
  the	
  
Barriers	
  
How	
  do	...
15	
  
AP	
  AutomaAon	
  Savings	
  
CalculaAng	
  how	
  much	
  AP	
  costs	
  you	
  today	
  
Acme	
  Catalog	
  empl...
16	
  
AP	
  AutomaAon	
  Staff	
  Savings	
  
16	
  
CalculaAng	
  how	
  much	
  AP	
  costs	
  you	
  today	
  
Acme	
  ...
17	
  
InvesOgate	
  the	
  
Benefits	
  
Build	
  the	
  Business	
  
Case	
  
Overcome	
  the	
  
Barriers/	
  resources	...
18	
  
Find	
  OperaAonal	
  and	
  	
  
Strategic	
  Value	
  
Strategic benefits Operational benefits
90-95% reduction i...
19	
  
Reducing	
  Your	
  Risk	
  –	
  	
  
Finding	
  the	
  Right	
  SoluAon	
  
20	
  
Guest	
  Faculty	
  
Evelyn	
  Benne;	
  
Lincoln	
  Trust	
  
Evelyn	
  has	
  over	
  twenty	
  years	
  of	
  ex...
21	
  
Case	
  Study:	
  Lincoln	
  Trust	
  
Metrics	
  
•  AccounOng	
  System:	
  Microsoo	
  Dynamics	
  SL	
  
•  Ave...
22	
  
Anybill	
  Overview	
  
Company	
  
•  Based	
  in	
  Washington,	
  DC	
  
•  Founded	
  in	
  2001	
  
•  1,500+	...
23	
  
23	
  
24	
  
24
Ques%ons?	
  
	
   	
  Henry	
  Ijams	
  
	
   	
  Henry.ijams@paystreamadvisors.com	
  
	
   	
  www.paystreama...
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[Webinar] Stop Thinking About It and Automate Your AP Processes

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Recording: https://www.dropbox.com/s/p62hekx2tnkea13/2013-10-10%2014.01%20Stop%20Thinking%20About%20it%20and%20Automate%20Your%20AP%20Processes.wmv

Speakers:
Henry Ijams, Managing Director of PayStream Advisors
Peter Bepler, President and Co-Founder of Anybill

You think about automating. You might even have meetings about automating. Well, the time has come to stop thinking about it and to make it happen. If you think your company might be too small to automate, think again.

So, how do you get started? Attend our 50 minute webinar to get your burning questions answered about how to begin the automation process. Off the heels of PayStream's recently published report on Automating Payables for the Small to Medium Enterprise Market, we're here to offer you valuable tools and ideas to help get your project kicked off.

Join us as the presenters discuss:

-Current landscape of AP departments in the US
-How to create an effective business plan with realistic ROI
-Challenges and barriers to your automation goals
-What the innovators are doing

Published in: Economy & Finance, Business
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Transcript of "[Webinar] Stop Thinking About It and Automate Your AP Processes"

  1. 1. 1   Stop  Thinking  About  it  and  Automate!   Henry  Ijams  –  PayStream  Advisors   Peter  Bepler  –  Anybill   Evelyn  Benne;  –  Lincoln  Trust     1  
  2. 2. 2   Henry  Ijams   Henry  Ijams   Managing  Director   PayStream  Advisors,  Inc.     Mr.  Ijams'  28  years  of  experience  focuses  on  trends  and  technologies  in   financial  operaOons  automaOon  including    strategies  regarding  the   automaOon  and  benchmarking  of  Purchasing,  Order  to  Cash,  and  Payables   processes.       Through  PayStream  Advisors,  Mr.  Ijams  consults  with  domesOc  and   internaOonal  organizaOons  that  want  to  take  advantage  of  leading   pracOces  and  automaOon  soluOons.     When  he’s  not  running  to  catch  an  airplane,  Henry  can  be  found  racing,   biking  or  swimming  on  the  roads  and  lakes  of  North  Carolina,  his  adopted   home.    Thankfully  his  kids  are  used  to  the  excessive  energy  that  Henry  and   his  wife  display  for  outdoor  exploits.       Henry  has  an  MBA  from  the  University  of  North  Carolina.    His  wife  is  not   impressed.     Today’s  Presenter  
  3. 3. 3   Today’s  Guest  Faculty   Peter  Bepler     Peter  Bepler   President  and  Co-­‐Founder   Anybill   Peter  directs  Anybill’s  business  strategy,  focusing  on  the   company’s  markeOng,  sales,  channel  partners  and   communicaOons.    As  a  co-­‐founder,  he  plays  a  key  role  in   developing  the  Anybill  soluOon  and  championing  accounts  payable   automaOon  for  the  SMB  market.       Before  co-­‐founding  Anybill,  Peter  was  Director  of  Business   Development  for  UniverseONE,  Inc.,  a  pioneer  of  online  markeOng.     There  he  developed  and  implemented  web  markeOng  strategies   for  clients  and  spearheaded  the  development  of  online  markeOng   best  pracOces.     Peter  holds  a  Bachelor  of  Arts  degree  in  Economics  from  Kenyon   College.    In  his  free  Ome  he  enjoys  jumping  out  of  helicopters.  
  4. 4. 4   PayStream  Advisors   Research  and  Advisory  Services  for  Financial  OperaAons:   -­‐  E-­‐Invoicing   -­‐  AP  AutomaOon   -­‐  P2P  Peer  Benchmarking     -­‐  Electronic  Payments   -­‐  T&E  Expense  Management   -­‐  Receivables  Document  Management   -­‐  eBilling   -­‐  PayStream  P2P  Summit     www.paystreamadvisors.com  
  5. 5. 5   Agenda   •  Current  landscape  of  AP  departments   •  Benefits  of  automaOon     •  How  to  create  an  effecOve  business  plan     •  How  to  get  buy-­‐in   •  What  the  innovators  are  doing  
  6. 6. 6   0% 10% 20% 30% 40% 50% 60% 70% 80% AP  AutomaAon  AdopAon  Rate   by  Industry   6   *  AutomaOon  adopOon  rates  by  company  size  have  been  esOmated  based  on  PayStream’s  surveys  on  Imaging  automaOon,   eInvoicing  and  ePayments  with  total  number  of  response  of  more  than  1,000.     Market  adopOon   rate:  46%   Below  average   adopOon  
  7. 7. 7   Pain  Points  with  Invoices   Source:  Invoice  AutomaOon  Benchmarking  2012   Q:  What  are  the  biggest  challenges  your  organizaOon  faces  in  the  invoice  management  process?  
  8. 8. 8   InvesAgate  the   Benefits   Build  the  Business   Case   Overcome  the   Barriers/  resources   Becoming  Empowered:   Before  you  can  begin  your  project,  you  need  to  speak  the   language  of  your  Controller/CFO.   Build  the  business  case  for  your   project.  
  9. 9. 9   •  Are  you  buried?   •  Do  you  see  a   way  out?   A  LiNle  Overwhelmed?  
  10. 10. 10   Overcoming  Stuck   •  Share  the  Benefits   •  Develop  a  Business  Plan   •  Overcome  the  barriers  
  11. 11. 11   Best  PracAces  in  Transforming   AP   •  Centralize  receipt  /  payments  þ     •  Scan/Automated  entry–    ✓    or  ý •  Approval  Workflow  –  ✓  or  ý   •  Automated  Payments    ý
  12. 12. 12   InvesAgate  the   Benefits   Build  the  Business   Case   Overcome  the   Barriers/  resources   StarAng  Your  Project:   •  Step  1:  Measure  your  opportuniAes.   •  How  many  invoices  does  your  organizaOon  process?     •  How  many  payments?     •  What  does  it  cost  you  to  process  an  invoice  and  payment?   •  Take  advantage  of  resources  like  PayStream’s  free  research  reports  and   Cost  Per  Invoice  Calculator   •  Next,  compare  your  costs  with  automaAon  costs.   •  What  your  cost  per  invoice  opportunity?   •  Simple  Savings  Opportunity  Method:   •  Average  Cost  for  AP  to  Process  an  automated  invoice:      <  $3.50  (vs.  Avg  Paper  Cost  $6.83)   •  Average  Cost  for  AP  to  Process  an  automated  payment:    <  $2.00  (vs.  Avg.  Check  Cost  $5.50)  
  13. 13. 13   InvesOgate  the   Benefits   Build  the  Business   Case   Overcome  the   Barriers/  resources   Following  Through  With  Your  Project:   Now  that  you  have  an  idea  of  how  much  you  could  be  saving  your  organizaOon….   •  Step  2:  Research  the  SoluAons  Market   •  Which  sooware  is  right  for  your  organizaOon?     •  What  makes  one  soluOon  different  from  another?     •  Does  it  make  sense  to  manage  invoice  scanning  at  your  company?   •  Bonus  offer:    Use  PayStream’s  business  case  builder    
  14. 14. 14   InvesOgate  the   Benefits   Build  the  Business   Case   Overcome  the   Barriers   How  do  you  build  a  Bullet  Proof  business   case?   •  Step  3:  Gain  ExecuAve  Buy-­‐In.   •  Share  the  results  of  your  baseline  business  case  and  research  with  your   internal  leaders,  and  volunteer  to  become  the  project  lead  during   implementaOon.  
  15. 15. 15   AP  AutomaAon  Savings   CalculaAng  how  much  AP  costs  you  today   Acme  Catalog  employee  labor  costs  are  allocated  in  the  table  below.  Fully  loaded  employee  costs  assume  28%  average  overhead   for  fringe  benefits.   Sample  Company  Business  Case     Acme  Catalog   Sales  of  “Hazardous  Goods”     MS  Dynamics   •  4,000  invoices/Month   •  6  Staff  in  AP   •  1  Supervisor   •  1  Manager   •  3,200  Checks/month  
  16. 16. 16   AP  AutomaAon  Staff  Savings   16   CalculaAng  how  much  AP  costs  you  today   Acme  Catalog  employee  labor  costs  are  allocated  in  the  table  below.  Fully  loaded  employee  costs  assume  28%  average  overhead   for  fringe  benefits.   The Cost of Acme Catalog’s Current Accounts Payable Process Processing Mail Entering Data Managing Exceptions and Providing Customer Service Vendor Master Management Payment Processing AP Staff Oversight Total Full Time Equivalents 0.75 1.8 1.9 0.25 0.45 0.15 5.3 Names Danny & Mary Danny, Annie, Anna, Mary & Rob Annie, Anna, Mary, Oscar, Rob Annie, Anna, Mary, Oscar, Rob Annie & Oscar John Annual Cost of Labor $34,300 $108,735 $117,585 $15,728 $28,620 $20,625 $325,593 Acme  Catalog’s  best  automaAon  opportuniAes  
  17. 17. 17   InvesOgate  the   Benefits   Build  the  Business   Case   Overcome  the   Barriers/  resources   Overcoming  Obstacles  to  Lead:   •  Many  AP  technologies  cost  tens  of  thousands  of  dollars  and  IT   resources  to  implement.     •  But  not  all…   •  InnovaAve  providers  offer  simple,  low  cost  technology  that  requires   minimal  resources.     •  Lack  of  Ame,  budget,  and/or  resources  is  no  longer  a  valid  excuse   •  What’s  holding  you  back?      
  18. 18. 18   Find  OperaAonal  and     Strategic  Value   Strategic benefits Operational benefits 90-95% reduction in paperwork and manual processing Improved transparency and spend visibility 25-35% improvement in labor productivity Eliminates lost invoices, late payments ~2% of revenue in bottom line savings from indirect spend control $100’s+ of early payment discount opportunity
  19. 19. 19   Reducing  Your  Risk  –     Finding  the  Right  SoluAon  
  20. 20. 20   Guest  Faculty   Evelyn  Benne;   Lincoln  Trust   Evelyn  has  over  twenty  years  of  experience  in  general  ledger   accounOng,  financial  reporOng,  budgeOng  and  forecasOng  as  a   Senior  Accountant    and  Financial  Analyst.    At  Lincoln  Trust   Company,  Evelyn  provides  a  full  range  of  accounOng  support.           Lincoln  Trust  is  a  leading  naOonal  provider  of  trust  and   custodial  services.     When  she  is  not  working,  Evelyn  and  her  husband  enjoy   traveling  in  their  RV.     Evelyn  is  a  CerOfied  Public  Accountant.     Evelyn  Benne3  
  21. 21. 21   Case  Study:  Lincoln  Trust   Metrics   •  AccounOng  System:  Microsoo  Dynamics  SL   •  Average  number  of  Invoices  per  month:  130   •  Average  number  of  vendors  paid  per  month:  95   Challenges   •  Previously  relied  on  paper  invoices  and  manual  processing  for  invoice   management   •  AccounOng  staff  spent  45  hours  per  week  processing  50-­‐60  invoices     SoluAon   •  Automated  their  AP  with  Anybill  which  increased  efficiency  and  visibility  in   their  AP  process     Results   •  Frees  their  staff  from  mundane  tasks   •  Provides  clear  and  complete  visibility  throughout  their  AP  process   •  24/7  access  to  real-­‐Ome,  acOonable  data  anyOme,  anywhere   •  Slashes  processing  Ome  and  errors      
  22. 22. 22   Anybill  Overview   Company   •  Based  in  Washington,  DC   •  Founded  in  2001   •  1,500+  Clients   •  SAS  70  Type  II  |  SSAE  16  (SOC)  CerOfied   •  Local  Service  Bureau  &  Customer  Service  Team   •  Provides  end-­‐to-­‐end  AP  AutomaOon  and  Tax  Payment  SoluOons   Service   •  Streamlines  and  automates  the  AP  process  to  maximize  cash  management  and  increase  financial   controls.   •  Takes  everything  from  the  receipt  and  capture  of  an  invoice  on  the  front  end  to  the  approval  and   payment  on  the  backend.   •  Combines  sooware  and  outsourcing  to  reduce  the  cost  of  invoice  receipt,  processing  and  payment.    
  23. 23. 23   23  
  24. 24. 24   24 Ques%ons?      Henry  Ijams      Henry.ijams@paystreamadvisors.com      www.paystreamadvisors.com      (704)  523-­‐7357      
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